BIL | Taking a wait and see approach.
Updated
Since the stock has invalidated the inverted head and shoulder pattern shared in my previous chart, it may be best to take a wait-and-see approach. A bullish scenario would involve the stock staying above the ascending trendline while the RSI remains above its descending trendline. However, if the price or RSI closes below both trendlines, it may indicate a bearish continuation of price movement.
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
Note
01-03-2023Buyers seem to be providing necessary buying pressure to keep the stock above the ascending trendline support. Yet to see a breakout above the descending trendline resistance.
Note
07/03/2023The stock broke above the ascending trendline resistance and 20-day moving average.
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